Biden & Federal Reserve scramble to contain damage after two banks fail

The Federal Reserve announced it’s launching a review of the supervision and regulation of Silicon Valley Bank after it collapsed last week. It was the second-largest failure of a financial institution in U.S. history. U.S. regulators also shut down Signature Bank and investors are worried it could spark a broader banking meltdown. President Biden told Americans on Monday that the U.S. banking system remains “safe.” Larry Summers is a former U.S. Treasury Secretary during the Clinton White House and the former Director of the White House National Economic Council during the Obama administration. He tells Anderson Cooper whether he thinks the country is “out of the woods” yet.

Plus, bestselling author Jodi Picoult is speaking out after local media published a list of books that were removed from school libraries in Martin County, Florida, including 20 of her books. To learn more about how CNN protects listener privacy, visit cnn.com/privacy Learn more about your ad choices. Visit podcastchoices.com/adchoices